- Loan Amount: $15,925,000
- Loan Term: 3 YR
- LTV: 75%
Bridge Loan For Multifamily Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 YR
- Interest Only
• This vacant apartment complex was in disrepair and needed a total gut renovation. The plan included adding a concierge lobby, two new elevators, meeting space and a 1,400 square-foot gym within an atrium connecting the buildings.
• The complex had to follow specific redevelopment guidelines in order to take advantage of the city’s tax abatement program.
• Multi-phase business plan required extensive work on the property.
This loan provided the borrower with the renovation money required to rehab the entire complex.
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